How It Works

In its most simple form Life Insurance offers to protect individual and families for either a fixed period of time or for the remainder of their lifetime.

By making the important decision to obtain a Life Insurance policy for the future, you will need to decide on what type of policy you may need. Each persons individual needs are completely different. To help you choose, we have listed a few of the many options available.

What Type Of Insurance Do I Need?

• Life Insurance Only: An effortless way of ensuring that your loved ones are financially protected and secure in the event of your death.

• Life Insurance with Critical Cover: As above but also a lump sum is paid out if you are diagnosed with a critical illness such as cancer, a tumour, a heart attack and anything else listed in the policy.

• Mortgage Life Insurance: The amount of cover reduced over the term of your policy, usually in line with your outstanding mortgage balance.

• Whole of Life: A life insurance policy that covers the policy holder for the remainder of their life, with no specified term.

• Cover Period: The number of years until you retire, number of years left on mortgage or until the children grow up.

• Cover Amount: This is the lump sum payment that will be paid to your loved ones and family in the event of your death. If unsure simply estimate now and this can be changed at a later date.

What Is Critical Illness Cover?

Most life insurance policies include terminal or critical illness cover, however you would need to make sure before taking out any policy. This covers you or your partner if it’s a joint policy if you are diagnosed with a terminal illness. This means you can claim on your life insurance policy before you die. You would need to read through your policy to make sure you are fully covered and the policy suits your requirements. There are many types of insurance that can benefit your needs.

Can We Get Joint Cover?

Yes, many of the UK Life Insurance providers offer Joint Life Cover protection. By choosing a joint cover Life Insurance is a very cost effective way of protecting yourself and a partner. To get a free no obligation Joint Life Insurance quote simply select the joint cover option on the quote form when requesting a free comparison quote.

How Much Cover Should I Get And How Long For?

This is entirely up to you and is based on how much you can afford per month for the cover. Each person is different so make sure you work out exactly how much cover you will need to cover things like mortgage, bills, number of children and other expenses etc. Life insurance cover duration depends on if you wish to cover the duration of the mortgage you have left or until your children are 21. There is no set duration to choose from you simply choose what suits you and your requirements.

Another key point to remember with Life Insurance protection is the changing circumstances in your life, this could be a new family home or a new member of your family being born. Therefore it is important to always ensure that you review your Life Cover every few years to make sure that it provides the protection that you need.

Can I Cancel My Cover?

Yes you can. However, be aware that your Life Insurance cover will stop as well. There is no cash pay-out at the end if you cancel, you simply will no longer have an active Life Insurance policy.

Compare Different Types Of Life Insurance

Although finding the best type of Life Insurance for your individual circumstances can be quite hard to find. By choosing to use an FCA regulated broker, like Life Insurance Cover who will compare all of the UK Life Insurance providers. Helping you to protect today and provide for the future of your family and loved ones.